Answer:
$5837 approx
Explanation:
Amount =
Amount deposited at the end of year 1 would yield = $2500 = $2500 × 1.41158 = $3528.95
Amount deposited at the end of year year 3 would yield = $750 = $891.075
Amount deposited at the end of year 4 would yield = $1300 = $1417
Total deposit at the end of year 5 = $3528.95 + $891.075 + $1417 = $5837 approx.
Answer:
$3,115,770
Explanation:
Given:
Current ratio = 3.60
Current liabilities = $401, 000
Quick ratio = 1.50
Inventory turnover = 3.70
Current ratio is calculated by dividing your current assets by your current liabilities.
Current Assets = 3.60 × 401,000
= $1,443,600
1.50 × 401,000 = 1,443,600 - Inventory
601,500 = 1,443,600 - Inventory
Inventory = 1,443,600 - 601,500
= $842,100
Cost of Goods Sold = 3.70 × 842,100
= $3,115,770